Lorillard (NYSE: LO) shares slipped 7.07% to $62.47 after Reynolds American (NYSE: RAI) agreed to acquire Lorillard in a cash-and-stock transaction valued at $27.4 billion, including the assumption of net debt.

StemCells (NASDAQ: STEM) shares dropped 6.46% to $1.89 after the company announced a proposed $20 million offering.